Is Ingersoll Rand (IR) A Smart Long-Term Buy?

Artisan Partners, a high value-added investment management firm, published its ‘Artisan Global Discovery Fund’ third quarter 2021 investor letter – a copy of which can be downloaded here. A return of 2.85% was recorded by both its Investor Class: APFDX and Advisor Class: APDDX, and 2.93% by its Institutional Class: APHDX for the third quarter of 2021, all beating the MSCI All Country World Index that delivered a -1.05% return for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Artisan Global Discovery Fund, in its Q3 2021 investor letter, mentioned Ingersoll Rand Inc. (NYSE: IR) and discussed its stance on the firm. Ingersoll Rand Inc. is a Davidson, North Carolina-based mission-critical flow creation products and industrial solutions provider with a $23.8 billion market capitalization. IR delivered a 28.40% return since the beginning of the year, while its 12-month returns are up by 29.45%. The stock closed at $58.50 per share on December 03, 2021.

Here is what Artisan Global Discovery Fund has to say about Ingersoll Rand Inc.  in its Q3 2021 investor letter:

“We also added to Ingersoll Rand. Ingersoll Rand is a global market leader with a broad range of mission-critical flow creation technologies (pumps, compressors, etc.) for industrial and medical applications. Over the past several years, a new management team has repositioned the company toward less cyclical, more profitable businesses, which are supported by a stronger culture of employee engagement and continuous improvement. More recently, the company’s top-line growth has accelerated as the pandemic fades, and margins are benefiting from cost synergies achieved in its merger integration with Gardner Denver (with further runway ahead). This has boosted cash flows and enabled management to resume its successful bolt-on acquisition strategy, acquiring Seepex GmbH, a global leader in positive displacement pumps for end markets such as water, wastewater, food and beverage and chemicals, in Q2. With an increasingly visible organic and acquisition-driven growth capability, characteristics the market appears to be undervaluing, we added to our position at an attractive discount to our PMV estimate.”

Roman Motizov/

Based on our calculations, Ingersoll Rand Inc. (NYSE: IR) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. IR was in 33 hedge fund portfolios at the end of the third quarter of 2021, compared to 31 funds in the previous quarter. Ingersoll Rand Inc. (NYSE: IR) delivered a 10.50% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.